Atlas Honda : Transmission of Annual Report For the Year Ended March 31, 2023

About the Cover

Throughout the journey of 60 years, Atlas Honda Limited has seen many milestones which were dreamed as a journey of long term success by great minds of Mr. Yusuf H. Shirazi (late), the Chairman and Mr. Soichiro Honda (late), founder of Honda Motor Company.

This journey of pursuit, drive and dedication began with humble stride and eventually became the nation's largest motorcycle manufacturer. Throughout its history, the company has been a leader in innovation, constantly pushing the boundaries of what is possible in design and engineering. With products of highest quality, state of the art manufacturing facilities, largest dealership network and impeccable after sale service, the Company today is considered the benchmark and flag bearer of the motorcycle industry in Pakistan.

On the completion of 60 years, Atlas Honda Limited would like to reminisce through its past achievements and honour the moments which have transformed a dream into reality. Being the first choice of consumers for six decades reflects the company's commitment to building a sustainable and innovative future. The road to the future may be challenging but the past exhibits that the Company will remain a driving force in its purpose to give customers an unparallel riding experience. The Company is determined to embrace the opportunities and challenges that lie ahead and enter a new decade with sheer optimism and excitement thus "Honouring our Past and Embracing the Future."

1 2 3

Company Overview	Messages for Stakeholder	Financial Highlights

Honouring Our Past	04
Vision, Mission, Core Values &
Code of Conduct	14
Strategic Goals & Quality Policy	16
About the Company &
Group Structure	18
Group Shareholding	20
Atlas Group Companies	21
Organization Chart	22
Geographical Presence	23
Company Information	24
Board of Directors	26
Business Model	28
Significant Events	30
Shareholders' Information	31

Chairman's Review	34
Directors' Report to Shareholders	37
Directors' Report to Shareholders (Urdu)	44
Chairman's Review (Urdu)	47
Report of the Board Audit Committee	48
Risk and Opportunity Report	50
Additional Information
- Strategy and Resource Allocation	56
- Future Outlook	58
- Business Rationale for Major Capital	58
Expenditure
- Significant Plans & Decisions	58
- Striving for Excellence in Corporate
Reporting	59
Notice of the 58th Annual General
Meeting	60

Key Financial & Non-Financial	65
Analysis of Financial Statements
- Financial Ratios	66
- Dupont Analysis	69
- Statement of Financial Position	70
- Statement of Profit or Loss	73
- Statement of Cash Flows	75
Share Price Sensitivity Analysis	77
Statement of Value Addition and
its Distribution	78
Quarterly Performance Analysis	79

th

4

5

6

Sustainability Report	Financial Statement	Other Information

About the Report	82
Sustainability Highlights 2023	83
General Information	84
CEO's Message on Sustainability	85
Sustainable Development Goals	86
Sustainability Targets	87
Sustainability Strategy	88
Environmental Protection	98
Product Responsibility	105
Corporate Citizenship	108
Vendor Management	110
Employee Management	113
Definition, Methodology and Scope	118
Independent Assurance Statement	119
GRI Content Index	121

Statement of Compliance with			IT Governance, Cyber Security and
Code of Corporate Governance	128	Enterprise Resource Planning	176
Review Report to the Members			Product Portfolio	178
on Statement of Compliance with
the Code of Corporate Governance	130	Pattern of Shareholding	180
Report on the Audit of the			Glossary of Terms	183
Financial Statements	131
Feedback Form	185
Statement of Financial Position	134
Statement of Profit or Loss &
Other Comprehensive Income	135
Statement of Changes in Equity	136
Statement of Cash Flows	137
Notes to the Financial Statements	138

COMPANY OVERVIEW

MESSAGES FOR STAKEHOLDERS

FINANCIAL HIGHLIGHTS

SUSTAINABILITY REPORT

FINANCIAL STATEMENTS

OTHER INFORMATION

04 Integrated Annual Report 2023